New Green Banking options in Ecuador
The program will enable the creation of a green banking division that captures the current trends and generates opportunities by creating green socially responsible financial products
With the objective of establishing an environmental and social management system that supports the design and launching of a green credit program, CAF, Development Bank of Latin America, and Banco Bolivariano, signed a technical cooperation agreement that seeks to join environmental efforts in the financial environment.
Bernardo Requena, CAF's Director Representative in Ecuador, mentioned that the project is framed within the Environmental and Social Management Program for Financial Institutions (PGASIF, for its acronym in Spanish), the financial institution's main platform to support the internalization of environmental and social management in the Latin American financial sector.
Mario Frixone, Special Representative of Banco Bolivariano, highlighted the importance of all the efforts related to social and environmental responsibility, and the role that banking has in this context. In addition, he indicated that Banco Bolivariano is an entity that is committed to environmental issues, and proof of that is the creation of a Green Banking credit product.
The technical cooperation resources will help support and facilitate the identification and promotion of business opportunities for Banco Bolivariano in emerging environmental markets, particularly in the implementation of projects in the framework of the different bio-trade, green businesses, and energy efficiency markets.
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